Reliance Jio Platforms’ mega initial public offering (IPO) opened for subscription on October 21 and is scheduled to remain open until October 23. The issue was fully subscribed on the very first day, marking a record in the Indian primary market.
The IPO has a price band of ₹1,065 to ₹1,119 per share. Through the offering, the company has set a fund-raising target of ₹30,213 crore, described as the largest IPO in India’s stock market history.
As of 10:39 am on October 21, the issue had received 1.03 times subscription. Against 19.75 crore shares on offer, investors placed bids for about 20.25 crore shares.
Typically, large IPOs build demand gradually on the opening day. However, the Jio Platforms issue saw about 85% of the shares subscribed within the first hour and was fully subscribed within 100 minutes, reflecting strong investor interest.
